May 29, 2019 Newswires

Companies Select Prudential To Oversee Retirement Assets

Business Wire

Aker Solutions, a global engineering company, and Reser’s Fine Foods Inc., a national manufacturer and distributor of fresh and refrigerated prepared foods, chose Prudential Retirement as record keeper for their defined contribution retirement plans. Prudential Retirement is a business unit of Prudential Financial, Inc. (NYSE: PRU).

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Scott Gaul, head of Sales and Strategic Relationships (Photo: Business Wire)

With $142 million in retirement assets, Aker Solutions’ plan has 1,273 participants and transitioned on March 1, 2019. Reser’s Fine Foods Inc.’s plan transitioned on April 18, 2019.

Kevin Raymond, consultant and principal at Sellwood Consulting LLC, is the advisor of Reser’s Fine Foods Inc.’s plan, and Sean Waggoner, executive vice president at Alliant Retirement Consulting, is the advisor of Aker Solutions’ plan.

For Aker Solutions, it was Prudential’s commitment to financial wellness and ability to help their employees with all aspects of their financial lives that influenced their selection. Reser’s Fine Foods Inc. acknowledged Prudential’s experience working with manufacturing clients set it apart.

“Our recordkeeping business continues to see momentum and these latest client wins are a sign of our growth,” said Scott Gaul, senior vice president and head of sales and strategic relationships. “It’s also an indicator that our financial wellness value proposition and 80 years of experience serving manufacturing clients is resonating with advisors and employers.”

Prudential Retirement’s footprint in the manufacturing industry includes overseeing $32.3 billion in assets across 730 plans that provide financial security to 472,050 participants.

“We strive to attract and retain the best talent in our industry,” said Julie Stewart, senior director of corporate human resources at Reser’s Fine Foods Inc. “With Prudential, we know that we have a partner who understands the challenges and complexities facing our industry, which will inform their approach as our retirement services provider.”

About Prudential Retirement

Prudential Retirement delivers retirement plan solutions for public, private, and nonprofit organizations. Services include defined contribution, defined benefit and nonqualified deferred compensation recordkeeping, administrative services, investment management, comprehensive employee education and communications, and trustee services, as well as a variety of products and strategies, including institutional investment and income products, pension risk transfer solutions and structured settlement services. With more than 85 years of retirement experience, Prudential Retirement helps meet the needs of 4.4 million participants and annuitants. Prudential Retirement has $454 billion in retirement account values as of March 31, 2019. Retirement products and services are provided by The Prudential Insurance Company of America (PICA), Newark, N.J., or its affiliates.

About Prudential Financial, Inc.

Prudential Financial, Inc. (NYSE: PRU), a financial services leader with more than $1 trillion of assets under management as of March 31, 2019, has operations in the United States, Asia, Europe, and Latin America. Prudential’s diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential’s iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit news.prudential.com.

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